Financial Calculations to Note for Senior HDB Sellers

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Financial Calculations to Note for Senior HDB Sellers


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Have you entered your golden years and thinking about selling your HDB flat? Here are a few things to keep in mind before putting your home on the market.

Full Retirement Sum (FRS)

These days, what keeps Singaporeans up at night is not so much the lightning-fast pace of metropolitan city living but the steadily rising Full Retirement Sum (FRS) that is set to a yearly increment rate of 3%.

At this rate, if you are currently in your fifties (let’s put it at 54), your FRS by the time you reach the retirement age of 65 (in the year 2020) will amount to $181,000. Why the increase? Well, the FRS is meant to be a retirement safety net for eligible Singaporeans to pull their CPF LIFE monthly payouts from, and as such will need to be adjusted according to factors such as future inflation and the ever-evolving standard of living.

Silver Housing Bonus (SHB)

Government schemes can provide a leg-up in boosting your retirement income should you want to rightsize to a small home. One scheme you may consider applying to is the senior-friendly Silver Housing Bonus (SHB) where eligible applicants (aged 55 and above) can receive up to $20,000 cash bonus per household by using some of your net sale proceeds to top up your CPF Retirement Account (RA) and join CPF LIFE.

Contact Ohmyhome for help

Need assistance to guide you through the process? Ohmyhome’s team of experienced and knowledgeable property agents are here to help, completely free of charge. You can reach us at 6886 9009 or drop us an email at

Not quite what you’re looking for? We can help you out with these as well:

  • Financial calculations
  • Affordability calculations
  • Explore Government schemes that are applicable

Sources: CPF, HDB, DollarsandSense

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